10-year yields have now surged higher to be up by 11 bps at 1.19% as the market is going back to the theme last week i.e. sell everything. Gold is also still pressured, down by 2%, while European equities are down by over 3% across the board.

This continues to hint that there is definitely blood on the streets and it is also telling by the rush to the dollar we’re seeing this morning so far.